Historical genesis of integrated reporting

Abstract

Introduction. Integrated reporting provides more opportunities to meet the needs of different stakeholders in financial and non-financial information on key aspects of business. An integral part of the study of the theoretical and methodological basis of integrated reporting is the analysis of the main stages of its historical genesis, which allows to identify key events that set the vectors for the development of the concept of integrated reporting. The purpose of the study is to formalize the stages of the historical genesis of integrated reporting based on the systematization of existing approaches, as well as key events in terms of the outlined stages.Methods. The main research methods are general scientific methods of induction and deduction, structural-logical approach, grouping, generalization, systematization, retrospective analysis, methods of comparison and extrapolation.Results. Despite the different theoretical and methodological approaches to the evolution of accounting reporting, scientists agree that the concept of integrated reporting is a logical modern stage in the development of financial reporting. However, scholars’ approaches to identifying key stages in the historical genesis of integrated reporting differ. The following stages of development of integrated reporting have been studied: origin (2000-2009), formation (2010-2013), breakthrough (2014-2017) and development (since 2018). The existing approach is supplemented by a preparatory stage and a list of key events within the selected stages of integrated reporting development. In particular, we consider the adoption of GRI standards, the United Nations Global Compact, the King Report on Corporate Governance, the EU Directive and others to be important events.Perspectives. The concept of integrated reporting is currently under development, characterized by dynamic transformations in understanding the essence, purpose and use. Promising areas of research in this context are the analysis of general global trends in integrated reporting; interpretation and practical application of various standards of integrated reporting; development of methodology for compiling integrated reporting taking into account industry specifics, etc.